HarperCollins and Newspapers to Be Split From News Corp?
According to multiple media reports, News Corp., parent to Fox, Dow Jones and HarperCollins, among others, is considering splitting its publishing operations from the rest of its media empire, news that has sent News Corp. shares soaring.
According to the reports, News Corp. has retained the services of investment banks Goldman Sachs, JPMorgan Chase and Centerview Partners to explore the possibility.
According to the Nieman Journalism Lab, the new publishing company would be the largest newspaper company in the world with $8.3 billion in revenues. The new company would also be in danger due to the slow-growth, low-margin nature of the newspaper and book publishing businesses.